Argent Trust Co Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Argent Trust Co raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,697 shares of the retailer’s stock after purchasing an additional 78 shares during the quarter. Costco Wholesale accounts for 0.9% of Argent Trust Co’s portfolio, making the stock its 26th largest position. Argent Trust Co’s holdings in Costco Wholesale were worth $20,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale during the 1st quarter worth $32,000. Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Vima LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $34,000. Finally, DSM Capital Partners LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth about $36,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.2 %

Shares of Costco Wholesale stock opened at $897.27 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $862.32 and a 200-day simple moving average of $808.65. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The firm has a market cap of $397.79 billion, a price-to-earnings ratio of 55.59, a price-to-earnings-growth ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is currently 28.75%.

Analyst Ratings Changes

Several brokerages have issued reports on COST. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Telsey Advisory Group restated an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a research note on Friday, September 6th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Roth Mkm restated a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, Argus boosted their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock valued at $4,252,856 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.